Home Highlights June 2013 Year 2013 This

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1. Unsecured loan u/s 68 - Bogus cash credits - where there is a statutory rebuttable presumption against the assessee, as in case of cash credits etc., u/s 68 or...

2. Credit of TDS - Deductor deducted the TDS in the subsequent year - Income was shown in the ITR for the earlier year - since the assessee has shown income, the assessee...

3. Unexplained cash credit u/s.68 - double taxation - taxing the source of investment and application of investment both - When an income is taxed / addition is made to...

4. Cenvat Credit - Forged DEPB Scrips - burden of proof regarding the admissibility of the Cenvat credit shall lie upon the manufacture taking such credit - credit to be...

5. Agricultural income - When all the documents have been brought on record by the assessee during assessment proceedings but not examined by the AO assessee cannot put...

6. Additions towards amount lying in bank account as unexplained money - the assessee right from beginning has made it very clear that the bank account belongs to his...

7. Credit of Dividend Distribution Tax u/s 115-O - The AO, in preparing the statement of assessed total income, computed the DDT payable but did not adjust the DDT already...

8. Addition on account of cash deposit to the bank account of the assessee - assessee is consistently submitting that the assessee has two bank accounts in her name and the...

9. Business income v/s undisclosed income - If the assessee had shown income u/s.44AD which is presumptive basis for taxation and looking to the nature of bank account...

10. Addition u/s 68 r.w.s. 115BBE - assessment framed u/s 143(3) - amount being inheritance from his father by way of will - Burden to prove - where the assessee has...

11. Addition u/s 68 - unexplained cash credit - Merely because the lenders have not shown the interest income in their return of income, does not mean the assessee has not...

12. Undisclosed income u/s 69B - stock submitted to the bank - Such a tendency tantamount to commercial immorality for obtaining unjustified gains in the form of higher...

13. Duty of AO to Guide the Assessee - Considering the specific facts on record that the assessee is non resident the amount which the ld. AO has taxed is earned and sourced...

14. Unexplained income - Once, the assessee has admitted the additional income, the said income is available to the assessee in the form of cash or kind which the assessee...

15. Nature of income - Since the assessee admittedly offered the income in his return pursuant to notice u/s 148 of the Act, which has been accepted by the AO as such, in my...